SunSwap exchange on the TRON network reduces fees by 99%
It will cost less than 2 TRX to complete a transaction
18.09.2024 - 09:08
2388
3 min
0
Last updated on Nov 17, 2024
What’s new? SunSwap, a leading decentralized crypto exchange (DEX) on the TRON blockchain, has reduced transaction fees by 99%. Completing transactions in the protocols of the second and third versions now costs less than 2 TRON (TRX) native tokens, or about $0,3 at the current exchange rate.
What else is known? The innovation was announced by TRON founder and head of centralized crypto exchanges (CEX) HTX and Poloniex Justin Sun. According to him, other fees on SunSwap, aside from transaction completion fees, have been reduced to less than $0,1. “Time to come back!” the businessman urged.
Token Terminal analysts pointed to increased activity on the TRON network. Over the past month, fees totaled $220 million, while the number of transactions and active users totaled 225 million and 14,1 million, respectively.
The most popular applications on the network are those of USDT Tether, an issuer of the USDT stablecoin, and SunPump, a launchpad for SunPump meme tokens. For example, the USDT app on TRON is worth $61,8 billion with 8,3 million senders of the asset per month. On SunPump, the daily number of active addresses is 10 300, with fee income reaching $416 000 over the same period.
TRX is ranked 11th in the overall cryptocurrency ranking by market capitalization with over $13 billion and is trading at $0,1502, unchanged in price overnight. The weekly drop was 1,4%, but the asset has added 40% since the beginning of the year.
According to data from the aggregator CoinGecko, SunSwap V2 has a daily trading volume of $26,15 million. There are 72 coins and 612 trading pairs available on the platform. The most popular asset is SUNDOG. On SunSwap V3, the trading volume is 31,14 million and the platform offers 15 coins and 20 pairs. The most popular asset is USDT.
Earlier this month, Justin Sun announced that SunPump’s proceeds will be used to buy back and burn SUN coins, which will help maintain the asset’s exchange rate.
Useful material?
Market
Due to supply shortages, the asset’s pre-market exchange rate was climbing above $1000
Dec 16, 2024
Incidents
Reports about the hacking of the exchange with calls to withdraw assets began to spread on December 13
Dec 13, 2024
Crypto regulations
Stablecoins from issuer Circle will not be affected by the changes
Dec 12, 2024
Crypto regulations
The platform will launch after meeting the preconditions of the local exchange authority
Dec 9, 2024
Market
The $1,1 billion figure was reached after the bitcoin correction
Dec 6, 2024
Crypto regulations
By early January, all open positions and loans of local users will be closed and repaid automatically
Dec 5, 2024